The response to Jeff Bezos's announcement of a $2-billion fund to create preschools and help homeless families has been muted if not sceptical. Some critics say that Bezos should give raises to Amazon workers first. Others argue that he should be taxed instead and the revenue put toward education.
I'd like to speak up for private philanthropy, with the caveat that we cannot possibly know yet whether the gift will prove wise.1
First, the gift is unlikely to take the form of Jeff Bezos dictating terms, even if he is the world's richest man. Bezos and his team will have to work